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Article: Sterlite Industries (India) Limited: ADS Offering - Exercise of Over-allotment Option.
- Article from:
- Business Wire
- Article date:
- July 30, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MUMBAI, India -- Sterlite Industries (India) Limited ("Sterlite") announces that it has received a notice from J.P. Morgan Securities Inc. and Morgan Stanley & Co. International plc, the joint bookrunners to the previously announced public offering (the "Offering") of new equity shares of Sterlite in the form of American Depositary Shares ("ADSs"), exercising their over-allotment option to acquire an additional 8,449,221 ADSs at the public offer price of US$12.15 per ADS. These ADSs will be listed on the New York Stock Exchange under the symbol "SLT".
The gross proceeds of the over-allotment option are expected to be approximately US$102.7 million, and the total ...